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In a matter of just a few years, “the Cloud” has evolved from a budding new tech feature to one of the main factors driving growth in the technology sector. Cloud computing is now an essential focus for software-related companies, and cloud stocks have piqued the interest of many tech-focused investors.

New technologies and changing consumer behavior have changed the shape of the technology landscape, and an industry that was once centered on the personal computer has adapted to survive in the world of mobile computing and the Cloud. The markets have been paying attention, and some of the best tech stocks have been those that are either primarily cloud-based companies, or those that have shown growth in their cloud operations.

With this in mind, we’ve highlighted three stocks that are not only showing strong cloud-related activity, but also strong fundamental metrics. Check out these three cloud stocks to buy right now:

Adobe Systems is a provider of graphic design, publishing, and imaging software for Web and print production. The company’s main offering is its “Creative Cloud,” which is a software-as-a-service (SaaS) product that allows users to access all of Adobe’s tools at one monthly price. The stock currently has a Zacks Rank #1 (Buy).

ADBE has been on an absolute tear lately, surging more than 70% in the past year. But shares are now trading near their lowest forward earnings multiple in that time period, and the company has plenty of expansion opportunity left. Earnings growth is expected to reach 54% in the current fiscal year, and Adobe is projected to see a long-term annualized EPS growth rate of more than 16% in the coming years.

Progress develops software and cloud-based products that assist clients with application deployment, application management, data connectivity, web content management, and predictive analytics. The company has shifted its focus to cloud computing and is looking to expand its cloud subscription offerings. Currently, PRGS is a Zacks Rank #2 (Buy).

In its most-recent quarter, the firm surpassed earnings estimates for the seventh-consecutive period, inspiring some positive estimate revisions for upcoming quarters. This is a stock to love based on its earnings growth, with consensus estimates calling for EPS expansion of 21% this quarter and 31% for the full fiscal year. But shares are also trading at an attractive 18x forward 12-month earnings.

AppFolio offers cloud-based software solutions for the property management and legal industries. The company’s AppFolio Property Manager is a leading solution for property management, while its MyCase application is ideal for practitioners and small law firms. APPF is holding a Zacks Rank #2 (Buy) right now.

AppFolio has locked down consistent profitability in recent quarters, crushing estimates by posting earnings of $0.24 per share in its most recent quarter. Now, forward-looking estimates are trending upward, and AppFolio’s full-year earnings growth is expected to touch 93% in 2018. But that is expected to continue to the tune of another 55% next year. This is also a hot momentum play as shares have surged more than 20% in the past month to reach new highs.

Wall Street’s Next Amazon

Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.

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At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1988 it has more than doubled the S&P 500 with an average gain of +25% per year. These returns cover a period from 1988-2017. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. The monthly returns are then compounded to arrive at the annual return. Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Zacks Ranks stocks can, and often do, change throughout the month. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations.

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